PPP Loan Data — KB Park CPA LLC (F/K/A Corporate Audit Service LLC), Ridgefield, NJ
KB Park CPA LLC (F/K/A Corporate Audit Service LLC) is a limited liability company (LLC) located at 705 Grand Ave in Ridgefield, New Jersey that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in May, 2020.
The company has reported itself as an Asian male owned business, and employed at least four people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:PNC Bank, National Association
KB Park CPA LLC (F/K/A Corporate Audit Service LLC) in Ridgefield, NJ received a Paycheck Protection Loan of $25,000 through PNC Bank, National Association, which was approved in May, 2020.
This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
Understanding Payroll Estimates Based On PPP Amount
Based on the standard PPP eligibility formula, it may be possible to estimate the payroll expenses represented by a company on their PPP application (see details above). In order to qualify for the PPP loan amount received, KB Park CPA LLC (F/K/A Corporate Audit Service LLC)'s 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $30,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, KB Park CPA LLC (F/K/A Corporate Audit Service LLC) reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - KB Park CPA LLC (F/K/A Corporate Audit Service LLC) in Ridgefield, NJ
705 Grand Ave
Ridgefield, NJ 7657
Offices of Certified Public Accountants
NAICS code 541211
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Unreported
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Ridgefield
In the Ridgefield area, 8 businesses in the "Offices of Certified Public Accountants" industry received a PPP loan. These local businesses reported an average of 4 employees (compared to this company's 4) and received an average PPP loan of $37,526 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
WJ Choi CPA LLC
Park Ridge, NJ
KB Park CPA LLC
Farber & Company CPA's PC
Park Ridge, NJ
Daniel D Kim
JIN Won Kim
Industry PPP Comparison Statistics
Nationwide, 57,013 businesses in the "Offices of Certified Public Accountants" industry received a total of $4.21B in PPP loans. This industry in total received less than 1% of the total PPP funding distributed.
PPP recipients in this industry report an average of 6 employees, 50% higher than KB Park CPA LLC (F/K/A Corporate Audit Service LLC)'s reported 4 employees, and received an average PPP loan of $73,772, 195% higher than this company's loan of $25,000.
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